FDIC Issues Annual Report on Efforts to Preserve and Promote Minority Depository Institutions — 2020-06-11

The Federal Deposit Insurance Corporation (FDIC) today released a report submitted to Congress that chronicles the efforts the agency made to preserve and promote Minority Depository Institutions (MDIs) in 2019. This report provides a summary profile of MDIs as of the end of 2019; a description of the FDIC’s MDI program; and detailed information on the FDIC’s 2019 initiatives supporting these institutions. Read FDIC’s annual report to Congress. The FDIC defines an MDI as any federally insured depository institution for which 51 percent or more of the voting stock is owned by minority individuals, or a majority of the Board of Directors is minority and the community that the institution serves is predominantly minority. As of December 31, 2019, there were 144 FDIC-insured MDIs with combined total assets of nearly $249 billion and 36,676 employees.